India Grain
Steady in key mkts; wheat seen up ahead of festive season
This story was originally published at 18:17 IST on 24 September 2024
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By J. Navya Sruthi
MUMBAI – Prices of wheat, rice, and maize were steady today in key markets across the country, traders said. However, they expect wheat prices to rise by the end of October due to firm festival season demand. Arrivals of both wheat and maize fell in Rajasthan's Kota and Karnataka's Davanagere today, they said.
Prices of mill-quality WHEAT were steady at 2,650-2,675 rupees per 100 kg today in Kota, and arrivals fell by 10,000 bags to 15,000 bags (1 bag = 50 kg), Aniket Mehta, a local wheat trader, said. Prices of the same quality wheat were steady in Mumbai's Vashi mandi also at 2,975-3,000 rupees per 100 kg against the previous day of trade, said Devendra Vora, a wholesale broker.
MAIZE prices were steady in Davanagere at 1,600-2,500 rupees per 100 kg, Shiva Kumar, a local trader said. Arrivals were down 3,000 bags at 1,000 bags (1 bag = 60 kg), he said. Kumar expects the price range to be 2,000-2,200 rupees per 100 kg in two-three days as arrivals are expected to increase.
Arrivals are usually high on Monday as the mandis are shut for two days – Saturday and Sunday, Kumar said. Arrivals were also down due to continuous rains in the region, he said. Moisture in today's arrivals was higher than 30%, against the acceptable limit of 14%, he said.
Prices of basmati RICE were also steady today in Vashi mandi at 7,300-7,400 rupees per 100 kg, Vora said. The government is likely to resume exports of non-basmati rice as stocks with the government are at a 20-year-high. End
Edited by Manisha Baxla
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